Depositors rush to withdraw funds from Nirmal Ujjwal Credit Co-op Society’s Chandrapur branch

Chandrapur: Hundreds of anxious depositors have started crowding the Chandrapur branch of Nirmal Ujjwal Credit Co-Operative Society Ltd. over the past several days. The society has reportedly stopped accepting new fixed deposits and renewing existing ones, triggering fears over the safety of public savings.The restriction, said to have come into effect from May 1, became widely known only recently, sparking panic among account holders across the district. Customers with matured fixed deposits (FDs) rushed to withdraw their money, while many others sought premature withdrawals amid concerns over stability of the cooperative society. Discussions among depositors suggest pending withdrawals in Chandrapur district alone could exceed 125 crore, though there has been no confirmation. The uncertainty has caused distress among senior citizens, farmers, traders and families who invested their life savings in the institution.When contacted, branch in-charge Yogita Bandurkar said the institution's headquarters had already released adequate funds and that payments were being made to all eligible. She maintained the primary challenge was handling the unusually heavy rush of customers.